'Francogeddon' as Swiss franc ends euro cap

Name: 'Francogeddon' as Swiss franc ends euro cap
Uploaded: 2015-01-16T11:23:33.000Z
Duration: 2 min 8 s
Description: The Swiss franc soars as much as 40% in chaotic trade after the Swiss Central Bank abandon the cap on the currency's value against the euro.

This video can not be played

To play this video you need to enable JavaScript in your browser.

The Swiss franc soared as much as 40% in chaotic trade after the Swiss Central Bank (SNB) abandoned the cap on the currency's value against the euro.

Traders dubbed the move as "Francogeddon", after it caused chaos on financial markets when the SNB abandoned the policy without warning on Thursday.

Imogen Foulkes reports from Geneva.

Business

16 January 2015